One of the top 10 fastest-growing companies in the U.S. was experiencing 22% turnover, in addition to the enormous costs of downtime and hard expense associated with attracting and re-training replacement talent.
A formal onboarding process was in place, but had not been assessed, so NBRI was hired to conduct Employee Onboarding Surveys.
New Employee Onboarding Isn’t An Optional Undertaking
Results showed the fast-paced environment had provided little or no time for the onboarding process, leaving supervisors frustrated and new hires without support systems that would ensure their success.
NBRI’s analysis and recommendations provided senior management with the critical information needed to bring turnover rates below 10% within 6 months, and with the addition of NBRI Employee Surveys, turnover rates were at less than 5% within one year, representing an enormous ROI.
Though results obviously vary; the significance of onboarding cannot be overstated, highlighting the need for onboarding surveys.
At their core, the surveys are a great tool for helping companies measure their performance against established internal benchmarks, providing desperately needed information to assess the health of the business.
But just as important, the accurate information obtained from onboarding surveys allows organizations to judge their performance against external industry benchmarks, making them aware of the ways they might be falling behind their competition.